Consumer Behavior Analysis
Added on 2020-05-28
15 Pages3290 Words235 Views
|
|
|
Running head: MARKETING CONSUMER BEHAVIOURMarketing consumer behaviourName of the studentUniversity nameAuthor’s note
1MARKETING CONSUMER BEHAVIOURExecutive summaryThe current assignment focuses on the aspect of consumer behaviour which governs theselection of products and services. These are a combination of a number of intrinsic andextrinsic factors such as personal preferences, peer reviews, economic a geographicalfeasibility. Therefore, these factors govern the frequency at which certain business outlets arefrequented by customers. Additionally, the theory of reasoned behaviour along withimpulsive buying behaviour further explains the tendency of the customers in selectingparticular products or services. The report explains the different aspects of consumer buyingbehaviour with the help of theories and practical examples.
2MARKETING CONSUMER BEHAVIOURTable of ContentsIntroduction............................................................................................................................3Consumer behaviour..............................................................................................................3Importance of consumer behaviour for organizations...........................................................5Consumer profile....................................................................................................................6Primary segment.........................................................................................................................7Secondary segment.....................................................................................................................9Issue identification...............................................................................................................10Conclusion............................................................................................................................11References............................................................................................................................12
3MARKETING CONSUMER BEHAVIOURIntroduction Consumer behaviour is a vital aspect of marketing and needs to be understood in thebroader terms. It is the study regarding approaches or factors guiding decision making in thetarget customer segment. It is necessary to understand the driving factors behind particularcustomer choices over others. This helps in the development of suitable action strategy forpitching a product right. The analysis of the consumer behaviour not only helps in analysingthe past but also helps on predicting the future. The factors influencing customer choicescould be divided into a number of components such as- geographic, demographic,psychological and behavioural. In the current report we have tried to relate the importance ofconsumer behaviour within the business prospects. For the discussion of the report we havetaken into consideration Square and compass which is a Melbourne based coffee and foodrestaurant ("Square & Compass", 2018). Consumer behaviour The decisions and actions which influences the purchasing behaviour of a targetcustomer base is known as consumer behaviour. Most of the selection process is backed byemotions and reasoning. Some of the most common factors influencing consumer choicesand decision making are economic conditions, personal preferences, opinions of peers. Economic condition serves as a guiding factor in dictating consumer choices. Ascommented by Chung et al. ( 2017), the capacity of making purchases is often restricted bypoor or limited economy. Therefore, indulging in an espresso which costs anywhere between4-5 dollars may not be a convenient option where the family is looking out for a cheapgrocery.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents